The following is a summary of the Sera Prognostics, Inc. (SERA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Sera Prognostics reported a net revenue of $0 for Q1 2024 due to adjustments as part of their normal revenue recognition process, although gross revenues before adjustments were approximately $39,000.

• Total operating expenses for Q1 were $9.1 million, down 20% year-over-year.

• The net loss for the quarter decreased 24% to $8.1 million.

• The company's cash and available-for-sale securities improved to $85.4 million as of March 2024.

Business Progress:

• Sera Prognostics is focusing on increasing test adoption and improving product margins.

• The company has made progress on strategic priorities like submitting PRIME study findings, improving test analysis process cost-effectiveness, increasing awareness of PreTRM birth, and expanding into international markets.

• Shipping of newly validated ambient whole blood collection kits to customers has begun, which is expected to reduce costs and increase patient access.

• Plans are in place to share data from their AVERT and PRIME studies with potential international partners and regulators.

• The FDA's final rule on Laboratory-Developed Tests (LDTs) is deemed potentially advantageous by the company.

More details: Sera Prognostics IR

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